StrideUp’s Home Purchase Plan is based on the Diminishing Musharakah model, a Shariah-compliant alternative to a traditional mortgage. Instead of lending you money, StrideUp co-purchases the property with you, and over time, your ownership share increases as you make payments.
How It Works:
🏡 Co-ownership structure – StrideUp initially owns a portion of the property, which you gradually buy back.
💰 You start with a minimum 10-15% deposit (depending on our offering at the time).
📆 One monthly payment, which consists of:
An acquisition portion, allowing you to gradually increase your share.
A rental portion, paid to StrideUp for the share they still own.
Let us know if you have any questions, reach out to us at hello@strideup.co or webchat, we’re happy to help! 😊